On June 30, 2020, Larkspur Company issued $ 3,551,000 face value of 13%, 20-year bonds at $ 3,818,140, a yield of 12%. Larkspur uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. (a) Prepare the journal entries to record the following transactions.
(1) The issuance of the bonds on June 30, 2020.
(2) The payment of interest and the amortization of the premium on December 31, 2020.
(3) The payment of interest and the amortization of the premium on June 30, 2021.
(4) The payment of interest and the amortization of the premium on December 31, 2021.

What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.

Abc factory produces 24,000 units. the cost sheet gives the following information: direct materials rs. 1,20,000direct labour rs. 84,000variable overheads rs. 48,000semi variable overheads rs. 28,000fixed overheads rs. 80,000total cost rs. 3,60,000presently the product is sold at rs. 20 per unit.the management proposes to increase the production by 3,000 units for sales in the foreign market . it is estimated that semi variable overheads will increase by rs. 1,000. but the product will be sold at rs. 14 per unit in the foreign market. however, no additional capital expenditure will be incurredq-1. what is present profit of the company ? q-2. what is proposed profit of the company in new market? q-3.what is suggestion for new makret proposal whether proposal accept or not

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.